Find Homes & Apartments for Rent in Elmwood, IL

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What to Know About

Life in Elmwood & Beyond

Elmwood shares many of the great qualities that make Illinois a desirable place to live.

Illinois is known for its rich cultural heritage, lively urban centers, and beautiful countryside landscapes. Explore the state's cultural heritage by visiting renowned museums such as the Lincoln Presidential Library and Museum, the Field Museum of Natural History, the Museum of Science and Industry, and the Art Institute of Chicago. The state also has a thriving theater and art scene, including the renowned Steppenwolf Theatre Company in Chicago. Illinois is also home to respected universities like the University of Illinois at Urbana-Champaign and Northwestern University.

Outdoor enthusiasts will love the scenic beauty of the Shawnee National Forest and the adventure-filled trails of the Starved Rock State Park. Sports fans will be in their element in Illinois, cheering on the Chicago Bears (NFL), Chicago Blackhawks (NHL), Chicago Cubs (MLB), Chicago White Sox (MLB), and Chicago Bulls (NBA). Experience famous attractions like the Willis Tower, Navy Pier, and the Lincoln Park Zoo. Also, enjoy the musicals and plays at Broadway-in-Chicago, festivals throughout the summer months, and culinary tours of the local restaurants.

With its vibrant cultural scene, exciting entertainment options, and top-notch educational opportunities, Illinois offers a high quality of life, making it a great place to live.

Rental Market Trends

Elmwood, IL

As of March 2025, Elmwood's rental market is cooling, with increasing rental inventory, where landlords may start offering small incentives to attract tenants. Elmwood's average rent is 33.6% ($573) lower than the Illinois average of $1,706 and 36.6% ($655) lower than the U.S. average of $1,788.

Average Rent
$1,133
Monthly ChangeMonth Over Month Change
Increased0.3% ($3)
Yearly ChangeYear Over Year Change
No change
Avg. Days on MarketAverage Days on Market
70
Unit Type Average Rent Monthly ChangeMonth Over Month Change Yearly ChangeYear Over Year Change
1 Bed $895 No change No change
2 Beds $1,153 No change No change
3 Beds $1,296 No change No change
Nearby Cities Average Rent Avg. Rent vs. ElmwoodAverage Rent vs. Elmwood Avg. Days on MarketAverage Days on Market
Peoria $932 Decreased17.7% ($201) 41 days
Pekin $697 Decreased38.5% ($436) 38 days
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Elmwood Rental Market FAQs

Explore rental prices, market trends, and availability in Elmwood, IL.

The average rent in Elmwood, IL is $1,133 per month.
Homes in Elmwood typically rent for between $627 and $1,685 per month, with an average of $1,133 per month.
In Elmwood, the average rent for a 1-bedroom home is $895 per month, for a 2-bedroom home, $1,153 per month, and a 3-bedroom home is $1,296 per month.
The average rent in Elmwood is 36.6% ($655) lower than the national average of $1,788 per month.
The rental market in Elmwood, IL, is currently cooling, with increasing rental inventory, where landlords may start offering small incentives to attract tenants.
In Elmwood, IL, the average rental stays on the market for approximately 70 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
There are currently 2 rental properties available in Elmwood, IL.
Based on the current averages, a household would need an annual income of $46,120 to comfortably afford a 2-bedroom home in Elmwood.
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